Major players in the humidifying equipment market are Armstrong International, Boneco, Carel Industries, Crane, Condair Group, Honeywell International, Dristeem, Koninklijke Philips N. V, Dyson ltd, and Winix Inc.
New York, June 22, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Humidifying Equipment Global Market Report 2021: COVID-19 Impact and Recovery To 2030" - https://www.reportlinker.com/p06097037/?utm_source=GNW
The global humidifying equipment market is expected to decline from $4.83 billion in 2020 to $4.81 billion in 2021 at a compound annual growth rate (CAGR) of -0.4%. The market declined due to stringent regulations imposed by various governments on the movement of goods and people to contain the virus, supply chain disruptions, and closure or halt in the manufacturing activities to stop the spread of coronavirus. The market is expected to reach $5.42 billion in 2025 at a CAGR of 3%.
The humidifying equipment market consists of sales of humidifying equipment by entities (organizations, sole traders, and partnerships) that produce humidifying equipment which are used to increase the relative humidity of a room to ensure that the dry space has enough moisture for the comfort of the occupants. Only goods and services traded between entities or sold to end consumers are included.
The humidifying equipment market covered in the report is segmented by type into warm-mist humidifier, cool-mist humidifier, ultrasonic humidifier, evaporative humidifier; by distribution channel into multi-brand stores, exclusive stores, online, other distribution channels; by application into commercial, industrial, residential.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The high cost for installation and maintenance of humidifying equipment is a major factor restraining the growth of the global humidifying equipment market.Central humidifier work by increasing the relative humidity consistently and comes in several different sizes, types, and installation style that impacts the overall cost.
For instance, the average cost of installing a central humidifier is between $600 and $1,000.The minimum cost for installing a basic humidifier is around $487, while the maximum cost around $1,532 for a steam humidifier.
Therefore, the high cost for installation and maintenance of humidifying equipment is predicted to restrains the market growth.
In August 2018, Condair Group AG, a Switzerland-based manufacturer of commercial and industrial humidification and evaporative cooling products and systems acquired Aireven Pty Ltd in Australia for an undisclosed amount.The acquisition of Aireven Pty Ltd in Australia maintains the strategic integration of Condair Group AG into the Asia Pacific and is also aimed at strengthening the company’s position in the global humidification and evaporative cooling business.
Aireven Pty Ltd is an Australia-based company engaged in manufacturing and selling a complete range of humidifier and evaporative cooling technologies for commercial and industrial applications.
An increase in the prevalence of diseases such as asthma, sinusitis, and other allergies attributing to dry air have created awareness among customers to maintain specific humidity in the air by using humidifying equipment.According to the Global Asthma Report 2018, Asthma kills about 1000 people every day and attacks as many as 339 million people.
Humidifying equipment releases steam or water vapor into the air to increase humidity and help individuals avoid issues faced with dry air. Hence, the increasing prevalence of diseases such as asthma, sinusitis, and other allergies with dry air is projected to generate higher demand for humidifying equipment.
Major players operating in the market are focusing on developing new innovative products to attract a large customer base and maintain their position in the competitive business environment.The humidifying equipment manufacturing companies are incorporating advanced technologies to introduce innovative portable smart products.
For instance, in July 2019, Xiaomi launched a new portable MIJIA Smart Sterilization Humidifier with UV-C water sterilization and smart humidifiers for offices and homes. It has a smart constant humidity function that monitors indoor humidity in real-time.
The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06097037/?utm_source=GNW
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